[5] The bank pioneered mortgage lending on extended, low-interest terms in Argentina, and thus contributed to consolidating a modern Argentine economy (a policy centerpiece of the Generation of '80, as Roca and his allies were known).
[10] This practice, however, required growing subsidies from the Central Bank (over US$400 million annually), and during the era of financial liberalization advanced by President Carlos Menem from 1989 onwards, this support was reduced.
Its leading private shareholder, real estate development firm IRSA, would control 25-30%, and though its interest in increasing its stake grew with the recovery in the Argentine economy after 2002, President Néstor Kirchner maintained the bank's significant government ownership.
[5] The headquarters was subsequently relocated to Clorindo Testa's Banco de Londres y América del Sur building, one of the country's best-known works of Brutalist architecture.
[3] The bank was commissioned in June 2012 to administer the PRO.CRE.AR initiative, a home loan program funded by the ANSES social insurance agency to make over us$4 billion available over four years for the construction of 100,000 new homes for private ownership and at relatively low interest rates and long terms (4 to 16%, with initial rates 2% below these, and 20 to 30 years, in each case depending on income); over 1.4 million prospective borrowers submitted on-line questionnaires in the program's first week alone.